Bitwise CIO: CLARITY Act may reshape the valuation of crypto assets like the treasury bond market

According to Golden Finance, Bitwise Chief Investment Officer Matt Hougan stated that the US House of Representatives passed two landmark bills on Thursday. One of them, the CLARITY Act, provides a clear definition for digital assets and divides regulatory responsibilities between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). At the same time, another legislation called the GENIUS Act became the first federal level cryptocurrency law in US history, establishing national standards for stablecoin issuance and regulation. This has prompted institutional investors and market analysts to rethink the valuation, trading methods, and structural design of future digital assets. After the vote was passed, Matt Hougan expressed his views on the impact on the digital asset market. He stated that the CLARITY Act, in particular, may introduce a completely new pricing mechanism for cryptocurrency assets, similar to the valuation of bonds in traditional finance (TradFi).